Today, the National Statistic Office provided Mongolian economic data for the first quarter of 2016.
In March 2016, inflation increased by 0.5% in comparison to the previous month and by 1.7% on March 2015. The rise in inflation was caused by the price of meat and vegetables. According to the survey; the price of groceries increased by 2.4% and meat price by MNT 300-1000 per kilogram.
Over the first three months of 2016, budget outgoings were MNT 1.7 trillion, whilst income was MNT 1.1 trillion; the budget deficit was registered at MNT 616 billion. In comparison with the first quarter of 2015, the budget deficit has increased 4.2 times. In addition, tax revenue has fallen by MNT 120 billion, when compared to the first quarter of 2015.